One of the world’s most important sectors is on the cusp of a technological transformation. The logistics and supply chain sector are in severe need of an upgrade, thanks to eCommerce and digital delivery systems, with a projected market size of $12,256 billion and a 3.48 percent CAGR by 2022. Technology has made it possible for logistics companies to reach a wider audience and give a better customer experience, from on-premise solutions like the best accounting system to upcoming technologies like AI.
Every logistics and supply chain company should implement these seven technologies by 2020.
Any supply-chain or logistics firm has two parts: stationary and portable. More than a few functions, such as inventory management or human resources or dispatching or quality control are part of the stationary component. Fleets and delivery agents make up the second part of the mobile personnel.
For a company to be effective and productive, it is critical that its marketing and sales departments work together seamlessly.
Several software solutions, including:
- Admin Panel
- Best Live Chat Software (Chatbots)
- Automobile Fleet Management
- Asset and Inventory Management
- Geolocation tracking
According to the book marketing experts team, these applications ensure that all of the company’s departments are connected and communicating with each other, resulting in improved business performance.
Originally developed as a component of the Bitcoin network, blockchain is now an integral part of virtually every industry. But most business owners are unfamiliar with the logistics industry’s use of Blockchain.
Ethereum’s public network is used for small-scale logistics activities in the beginning. Additionally, Blockchain may be used to securely exchange private information without the requirement for a third party to monitor the process. Shippers may now use Blockchain to store and exchange information, limiting access to only devices connected to the network. As a result, Blockchain safeguards the sensitive information that is handled by logistics companies.
Over the last ten years, the robots sector has grown tremendously. The market size of this business sector is.
By 2023, the market is predicted to reach $70,715 million, with a CAGR of 9.4 percent, at $37,875 million. Drones, robots, and other completely autonomous vehicles are used extensively in the logistics business. Also, robotic process automation has a significant impact on supply chain sectors. The following are some ways in which robotics aids logistics personnel:
Carrying out duties like loading and unloading that aren’t very productive, like loading and unloading
In the age of the Internet of Things (IoT)
When it comes to Blockchain, all industries are adopting the Internet of Things (IoT) technology, but logistics is one of the industries where IoT can be most effectively exploited, especially in end-to-end procedures. Customer service, higher uptime, reliability, supplier availability and customer relationship management can all benefit from this technology. Thus, the Internet of Things (IoT) can play a significant role in enhancing a number of supply chain processes.
Technology That Is Long-Term Friendly
When it comes to sustainability, the logistics business is incorporating numerous technologies smoothly. Self-driving automobiles, on the other hand, are expensive, but they have been created to conduct delivery chores without the need for human intervention. In 2020, we may expect to witness greater advancements in technology adoption in order to improve their long-term viability.
The logistics and supply chain business has embraced AI and is making use of it to make routine jobs easier. In the logistics industry, here are some ideas for incorporating AI.
- Determining a path
IoT gadgets for transportation are being developed.
- Robotic door-to-door delivery systems; • Predictive optimization applications;
When it comes to artificial intelligence, some firms prefer to use augmented intelligence, which boosts human productivity and hence provides greater results than adopting AI as a whole.
Supply Chain Visibility in Real-Time
To get real-time data, logistics companies must use supply chain visibility. Supply chain data is readily available to consumers, who have become more knowledgeable. As a result, businesses must implement systems that provide precise tracking and ETA information for shipments.
Supply chain management is undergoing fast change, and organizations that refuse to adapt will find themselves out of business in no time.